Wiring money to suppliers in Mexico can feel routine. But one mistake in the process can mean losing the entire payment. Because wires, ACH, and Mexico’s SPEI transfers are irreversible, fraudsters know that a single slip can be worth tens of thousands of dollars.

Here’s how wire fraud happens in U.S.–Mexico trade, and what steps companies can take to stay protected.

Why Wires Are Risky for Cross-Border Trade

Wire transfers were designed for speed, not protection. Once funds leave your account, they are gone. There is no built-in dispute process or chargeback mechanism. For buyers wiring large purchase orders, this creates a perfect opening for fraud.

Common Wire Fraud Tactics

1. Bank-Detail Swap

Fraudsters intercept invoices and change the beneficiary account number. The buyer wires funds to the wrong account and only discovers the fraud once the supplier asks why payment never arrived.

How to prevent it: Require a phone call or secondary verification for all bank account changes.

2. Business Email Compromise (BEC)

Attackers impersonate a supplier or internal executive and demand urgent payment. Because emails and documents look real, AP teams may not question the request.

How to prevent it: Set up dual approvals for large payments and confirm unusual requests outside of email.

3. Fake Supplier Accounts

Fraudsters pose as legitimate suppliers, complete with websites and documents, then disappear after receiving an upfront wire.

How to prevent it: Verify suppliers against Mexico’s SAT registry, the 69-B blacklist of fraudulent companies, and state business records.

Real-World Consequences

According to the FBI’s Internet Crime Complaint Center (IC3), business email compromise alone has caused over $50 billion in global losses between 2013 and 2022. Invoices between the U.S. and Mexico are prime targets, since payments are large and verification steps are often skipped.

Safer Ways to Pay Suppliers

Wires may be fast, but they are not the only option. Businesses can reduce risk by:

• Using payment structures that hold funds until delivery is verified.

• Splitting payments into milestones tied to proof like CFDI 4.0 invoices or customs pedimentos.

• Locking beneficiary details so payouts cannot be redirected without verification.

Final Word: Trade With Confidence

Fraud thrives on urgency and weak verification. Buyers who take a structured approach can protect both their money and their supply chain.

Next step: Boonie makes every cross-border payment feel protected. Funds are locked until delivery is verified, then released automatically, giving you escrow-level safety without slowing down your business.